The U.S. Embassy joined the American Chamber of Commerce (AmCham) in Ghana today Monday April 25 to launch the 2022 SelectUSA Summit recruiting program.
Today’s event attracted Ghanaian companies and individuals from a variety of economic sectors to highlight the benefits of investing in the United States. Last week, the Kearney Global Business Policy Council ranked the United States as the number one global destination for future Foreign Direct Investment for the tenth consecutive year.
“Our economic engagement with Ghana continues to grow. One of our top priorities is to expand bilateral investment, not only into Ghana, but into the United States as well,” explained Acting Deputy Chief of Mission Stephanie Hutchison at the event. “Just as American companies are benefiting from the Ghanaian market, Ghanaian companies can capitalize on investment prospects in the United States.”
Hutchison highlighted the United States’ strong culture of innovation, as well as its business environment, labor force, diversity of industries, and lucrative domestic consumer market in her remarks. The United States remains the largest recipient of inward foreign direct investment in the world with $4.6 trillion in investment at the end of 2020.
The event featured speakers from the U.S. Embassy, the American Chamber of Commerce, Niche Cocoa, PwC, Kimanthi and Partners, McDan Shipping and Logistics, and United Airlines.
American Chamber of Commerce President Ayesha Bedwei Ibe welcomed participants and highlighted the positive development of Ghanaian companies investing in the United States. “This marks a new dimension of Ghana’s integration into the global economy,” she noted, “and it helps to fulfil a key objective of the Chamber: to promote investment and prosperity between the United States and Ghana.”
U.S. Embassy representative discusses investment opportunities in the United States
The speakers highlighted their experiences in the U.S. market, including the strong affinity for Ghana and Ghanaian products in the United States and complementary industries such as food processing, energy, software and IT services, and tourism, among others. Niche Cocoa Managing Director Edmund Poku described his company’s investment in the dairy state of Wisconsin where Ghana’s exports of cocoa and know-how combine with local inputs to produce chocolate in the world’s largest consumer market.
U.S. Embassy Commercial Counselor Dean Matlack explained U.S. Government resources available to investors, including specific ways the SelectUSA Program can assist potential Ghanaian investors to identify opportunities and partners, find state and local resources, and navigate company registration and other investment processes. Matlack will lead the Ghanaian delegation to the SelectUSA Summit, which will be held on June 26-29, 2022, in Washington, DC. He encouraged interested Ghanaian companies to sign up for this major networking event, if not this year, then next.
PwC, Kimanthi and Partners, and McDan Shipping and Logistics discussed market entry considerations, legal aspects of foreign direct investment, and the logistics of moving goods to support investments abroad. United Airlines highlighted its services for travelers to the Select USA Summit.